Mcarter05 18:07 PM - Jun 27 2022

The Elko Zone

 The Elko Zone (thanks for the name Linus) is where a 5 min candle enters the golden zone (I've adjusted this level to fit my style) 0.382-0.682 fib lines and vwap meet.  You can see from the pic below I played this 5 different times today. The arrows shows the candles I took the puts at.

-First trade was a quick scalp for 7%, this was a test and I sold when it broke the .50 daily fib.

-The next one I got 25% on, started scaling at fib level 0.236 and was 100% out when it bounced off the 200ema.

-The third was another 5%, got out 100% when it came back to the .50 daily fib.

-The last two were the best 26% and then 30%. Got out of the fourth one when it broke the 0 fib and the last one when it broke the 200ema.

  I do scale out at each fib level or if I see a reversal off an ema so the percent is what I sold the last contract for. I also put my stops at the 0.786 fib line and I'm playing ATM cons at least 1 week out. Hope this all makes sense when I write it out. It does in my mind but that doesn't always translate. lol
IMG_0010.jpg 1.17 MB
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Bones Tradez

Created By: Bones
Created: Mar 2, 2022
Total Followers: 27
Twitter: @BonesTradez
Options Trader - Not Financial Advise
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